EUR/AUD – 30M – SELL

Besides a ‘Double bottom retreat down’ chart formation is found. The chart picture forms ‘Double bottom retreat down’. which is a bearish signal. The pair is likely to go down.

The combination Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline downwards

A bearish trend down to the next support line at 1.80232 is considered certain.

Caution: A possible counter-trend in the direction of the resistance level at 1.80604 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Three Outside Down’ chart pattern is existing. The candles show ‘Three Outside Down’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

1.80604 – 1.80168 – 1.79926 – 1.80232 – 1.79451 – 1.79409 — 57.593898748442 – 54.078710157263 — 79.54799405678 – 57.406041609047 – 89.18023897304 – 76.983465698999

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Down – Double bottom retreat down – –